Oil prices increased Thursday after their biggest decline Wednesday by close to 6 percent, down to its lowest level in nearly 9 months, specifically since January 2022. Oil prices rose during trading Thursday within the range of 1 percent, before reducing part of that rise. Brent crude futures rose 63 cents, or 0.7 percent, to $88.63 a barrel, after closing at their lowest level since early February in the previous session. US crude futures rose 70 cents, or 0.9 percent, to $82.64 a barrel. Prices received a boost from Russian President Vladimir Putin’s threat to halt the country’s oil and gas exports if European buyers impose price ceilings.

Source: Libya Today September 08, 2022 13:07 UTC